Dimensional Fund Advisors LP grew its stake in Hope Bancorp Inc (NASDAQ:HOPE) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,953,027 shares of the financial services provider’s stock after buying an additional 739,692 shares during the period. Dimensional Fund Advisors LP owned 7.73% of Hope Bancorp worth $160,940,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Systematic Financial Management LP raised its holdings in shares of Hope Bancorp by 11.4% in the second quarter. Systematic Financial Management LP now owns 730,813 shares of the financial services provider’s stock worth $13,030,000 after buying an additional 74,574 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Hope Bancorp by 239.0% in the second quarter. Public Employees Retirement System of Ohio now owns 100,722 shares of the financial services provider’s stock worth $1,796,000 after buying an additional 71,007 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Hope Bancorp in the third quarter worth $562,000. First Trust Advisors LP raised its holdings in shares of Hope Bancorp by 4.1% in the second quarter. First Trust Advisors LP now owns 248,870 shares of the financial services provider’s stock worth $4,437,000 after buying an additional 9,795 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Hope Bancorp by 9.0% in the second quarter. BlackRock Inc. now owns 18,423,426 shares of the financial services provider’s stock worth $328,490,000 after buying an additional 1,527,125 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on HOPE. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “buy” rating and set a $19.00 target price for the company in a report on Wednesday, September 19th. ValuEngine cut shares of Hope Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 17th. DA Davidson reduced their target price on shares of Hope Bancorp to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 18th. Sandler O’Neill set a $16.00 target price on shares of Hope Bancorp and gave the stock a “hold” rating in a report on Wednesday, October 17th. Finally, TheStreet cut shares of Hope Bancorp from a “b-” rating to a “c+” rating in a report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Hope Bancorp currently has a consensus rating of “Hold” and a consensus target price of $18.20.
Shares of Hope Bancorp stock opened at $15.20 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. Hope Bancorp Inc has a 1 year low of $13.45 and a 1 year high of $19.86. The firm has a market cap of $1.96 billion, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 1.31 and a beta of 1.30.
Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Hope Bancorp had a net margin of 23.43% and a return on equity of 9.81%. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $141.01 million. During the same quarter last year, the company posted $0.33 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Hope Bancorp Inc will post 1.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 9th. Investors of record on Friday, October 26th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, October 25th. This represents a $0.56 annualized dividend and a yield of 3.68%. Hope Bancorp’s dividend payout ratio is presently 45.90%.
In other news, COO David P. Malone purchased 3,450 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The shares were bought at an average price of $14.58 per share, for a total transaction of $50,301.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.06% of the stock is currently owned by company insiders.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services primarily to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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